TCW Direct-Lending Fund Would Be Among the Largest Such Funds, Lend Up to $6 Billion

A portfolio company of the Carlyle Group LP is looking to raise $3 billion for what could be one of the largest direct-lending funds ever, according to people with knowledge of the matter.

The fund, to be managed by Carlyle's TCW Group Inc. unit, is seeking investments from sovereign-wealth funds and other deep-pocketed investors in search of income-producing strategies, as interest rates remain at historic lows, the people said.